NYBOT's Poor Retail Sales Data Look Bleak.

　　 According to New York's July 14th news, NYBOT's most active cotton (16095, -115.00, -0.71%) price fell to its lowest level in 20 weeks on Wednesday, due to poor retail sales figures, and the economic outlook means reduced demand.

October of last month Cotton futures The contract fell 0.89 cents, or 1%, to 77.25 cents per pound.

The focus of the market has long shifted to the December contract because it represents the upcoming 2010 US. cotton Yield. The contract closed down 1.30 cents, or 2%, to 73.35 cents per pound, the lowest closing price of the contract since February 24th.

SFS Futures analyst Mike Stevens said the deal was rather light, and it looks like the December contract is willing to trade between 73 and 75 cents.

ICAP Futures, vice president of commodities Luis Rangel, said seasonal pressure will continue to suppress the December cotton contract down to the recent support level of 70 cents.

Weak consumer demand and uncertain economic prospects have led to a reduction in consumer demand.

Retail sales fell 0.5% in June, according to data released by the US Department of Commerce on Wednesday.

The US Federal Reserve (FED) released its June meeting minutes, saying that if the economic outlook deteriorated sharply, further relaxation policies should be considered.

Traders said it might be consumer buying that cut market losses at low contracts.

Cotton prices rebounded at the end of 2009 and early 2010, and cotton prices were still 25% higher than the same period last year.

But analysts say cotton production in the United States may increase by 50% to 18 million 300 thousand packages in the fall to press cotton futures. The United States is a big exporter of cotton in the world.

The surge in prices has prompted us farmers to sow more cotton, which is expected to jump.

　　 cotton The main controversy in the market is whether the uncertain economic outlook will affect strong demand.

From a fundamental perspective, the market is discussing whether the largest cotton production in the United States will be enough to supply if the cotton in China is confronted with difficulties in summer.

The market will pay attention to the weekly export sales data released by the US Department of agriculture (USDA) on Thursday to measure the demand for cotton at the beginning of the planting year in 2010/11.

Cotton brokers expect us cotton sales to total 250 thousand to 350 thousand packages and last week sold 401 thousand and 500 packs.

Brokers Flanagan Trading expects cotton contract support in December to be 73.30 and 72.25 cents, with resistance levels of 74.25 and 75.10 cents respectively.

According to the data of the exchange, as of July 13th, the number of 2 cotton futures contracts that NYBOT could deliver was 206851 packages, which was 7354 less than that of the previous trading day.

Cotton futures holdings decreased by 2212 to 153514.

Turnover is expected to be 12432 hands. In option trading, there are about 4353 call options and 2320 put options.

Below is the closing price:

Closing trading range

October 77.25 -0.89 77.08-78.44

December 73.35 -1.30 73.21-74.82

March 74.30 -1.35 74.27-75.66